Why Should Dental Groups Utilize Lease Administration?

Re*Lease Administration offers a host of invaluable benefits for dental groups, streamlining their real estate management and contributing to overall operational efficiency. First and foremost, by maintaining a centralized and organized database of lease agreements, dental groups can easily track essential lease information, including expiration dates and renewal options. This proactive approach ensures they never miss critical deadlines and have ample time to negotiate new terms or explore alternative locations, minimizing disruptions to their practices.

Furthermore, proper lease administration facilitates accurate lease accounting, enabling dental groups to have a clear understanding of their financial obligations and expenses associated with each lease. The new ASC 842 FASB lease accounting standards have a significant impact on dental organizations, as they require greater transparency and disclosure of lease-related financial information. With these new standards, dental organizations must now recognize most leases on their balance sheets, resulting in increased assets and liabilities being reported. This change can affect key financial ratios and may influence lending decisions and investor perceptions. Additionally, compliance with the new standards demands a meticulous and organized approach to lease administration, ensuring accurate and timely reporting. Re*Lease Administration takes on this time-consuming task and plays a key role in assisting groups in remaining compliant.  This transparency not only supports better financial planning but also aids in complying with accounting standards and regulations.

Finally, Re*Lease Administration helps dental groups clarify the division of responsibilities between themselves and landlords.  With our platform, all responsibilities related to maintenance, repairs, and upkeep are clearly outlined and tracked, ensuring that both parties are aware of their duties and reducing the risk of disagreements or conflicts arising from unclear expectations.

Using this comprehensive lease data, we represent dental groups in negotiations with landlords from a position of strength, leveraging market insights to secure favorable lease terms and cost-effective rental rates. Overall, by centralizing lease data, tracking critical dates, and ensuring compliance with accounting standards, our software empowers dental groups to optimize lease negotiations, minimize disruptions, and make well-informed financial decisions, ultimately enhancing their overall operational efficiency and profitability.